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Oppenheimer Applies to Launch
An Unusual Commodities Fund

By

Nicholas Elliott Staff Reporter of The Wall Street Journal

Updated Nov. 1, 1996 12:01 a.m. ET

NEW YORK -- OppenheimerFunds Inc. has applied to the Securities and Exchange Commission to launch an unusual mutual fund that will invest directly in commodity markets, according to a prospectus obtained by Dow Jones.

The Oppenheimer Real Asset fund will be managed by Russell Read, who has been with Oppenheimer since 1993 as director of quantitative research. It "will invest principally in commodity-linked hybrid instruments,...